The Largest Rental Developments Completed in 2015 in Miami
- May 19, 2016
By Balazs Szekely, Contributing Editor
Housing demand in the Magic City continues to grow as more and more people are drawn to area. The thriving business climate and social scene in South Florida attracts thousands every year and, according to the US Census Bureau, the Miami-Fort Lauderdale-West Palm Beach metro area gained about 66,000 new residents from July 2013 to July 2014.
Developers do their best to keep up with the rising demand: last year’s balance sheet shows 3,272 new apartments for rent in Miami, built in 14 upscale properties of 50+ units across the city. Luxurious interior finishes and sought-after community perks are trending, and new-builds ask matching prices: while the average rent in Miami is $1,456, units built since 2015 ask $1,933 on average, according to Yardi Matrix.
Scroll down to take a look at the largest new rental developments completed in 2015:
1. Shorecrest Club, 465units
ECI Group clearly targets singles and young professionals seeking to move as close as possible to the core of the Miami business life with the majority of the apartments at Shorecrest Club being one-bedroom units. The two 20-story buildings include 14 two-bed apartments, but no three-bedroom units, so the community is only suitable for smaller families. The 700 on-site parking spaces make this development ideal for car owners, and a dock with water access represents a prominent amenity among the new-builds in the area. (Image courtesy of RENTCafé)
2. SoMa at Brickell, 418 units
Monogram Residential Trust’s LEED-proposed, 418-unit, eight-story building at 145 SW 13th St. also offers ample parking, and accentuates the focus on the luxury niche with quality finishes such as polished granite countertops and designer cabinetry. The common space includes further high-end amenities like a rooftop resort, aqua lounge and cabana area with grills. (Image courtesy of SoMa at Brickell Website)
3. AMLI Dadeland, 350 units
AMLI Residential’s 350-unit project is the first on our list to offer three-bedroom apartments, although only four of them. One-bed apartments dominate the unit mix, but families can also choose from 143 two-bedroom units. AMLI Dadeland is also LEED-proposed, and doesn’t lack luxurious amenities either. Residents can let off steam at two resort-style salt water pools, a fitness studio, aerial yoga studio and a bowling alley, while apartment interiors are equipped with designer kitchen cabinets and tile backsplashes, as well as full-size washers & dryers and programmable thermostats. (Image courtesy of AMLI Dadeland Facebook Page)
4. Altis at Kendall Square, 321 units
The Altman Cos. Spoils tenants at Altis at Kendall Square with on-site spa, swimming pool, fitness center and a volleyball court. Interiors feature further high-end amenities such as oversize walk-in and bonus closets, designer espresso wood vanities, private balconies and patios. The 13 three-story buildings include 14 studios, 103 one-bed apartments, 170 two-bed apartments, 26 three-bed apartments and 8 additional three-bed townhouses. (Image courtesy of Altis at Kendall Square Facebook Page and Altis at Kendall Square Website)
5. The Park at Kendall, 296 units
With just under 300 units, the 14 two- and three-story buildings at The Park at Kendall include parking spaces on the first floors and measure 323,232 square feet in total. FCI Residential Corp. shifted the focus from singles to families with close to two thirds of the total unit count comprising two-and three-bedroom apartments. Amenities include a resort pool area expansive veranda and cabanas, a clubhouse, dog park, business center, cyber café and a children’s playroom. (Image courtesy of The Park at Kendall Facebook Page)
For more of 2015’s largest apartment projects in Miami, check out the complete list on the RENTCafé Blog.